Fairbanks Capital Management Inc. Buys 164,400 Shares of Gamestop Corporation (GME)
Fairbanks Capital Management Inc. increased its stake in shares of Gamestop Corporation (NYSE:GME) by 102,111.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,561 shares of the company’s stock after purchasing an additional 164,400 shares during the quarter. Gamestop comprises about 3.3% of Fairbanks Capital Management Inc.’s portfolio, making the stock its 8th biggest position. Fairbanks Capital Management Inc. owned 0.16% of Gamestop worth $3,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GME. Dimensional Fund Advisors LP grew its stake in shares of Gamestop by 38.3% during the second quarter. Dimensional Fund Advisors LP now owns 8,501,615 shares of the company’s stock valued at $183,720,000 after purchasing an additional 2,353,774 shares during the last quarter. Numeric Investors LLC bought a new stake in shares of Gamestop during the second quarter valued at approximately $34,679,000. Balyasny Asset Management LLC grew its stake in shares of Gamestop by 1,459.9% during the second quarter. Balyasny Asset Management LLC now owns 724,800 shares of the company’s stock valued at $15,663,000 after purchasing an additional 678,335 shares during the last quarter. OxFORD Asset Management LLP grew its stake in shares of Gamestop by 3,009.1% during the third quarter. OxFORD Asset Management LLP now owns 403,092 shares of the company’s stock valued at $8,318,000 after purchasing an additional 390,127 shares during the last quarter. Finally, Towle & Co. grew its stake in shares of Gamestop by 26.2% during the third quarter. Towle & Co. now owns 1,491,360 shares of the company’s stock valued at $30,811,000 after purchasing an additional 309,790 shares during the last quarter.
Gamestop Corporation (GME) traded up $0.57 on Monday, reaching $19.20. 3,142,000 shares of the company’s stock traded hands, compared to its average volume of 2,874,356. The company has a current ratio of 1.20, a quick ratio of 0.38 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1,945.05, a price-to-earnings ratio of 5.19, a PEG ratio of 0.39 and a beta of 1.26. Gamestop Corporation has a 12 month low of $15.85 and a 12 month high of $26.84.
Gamestop (NYSE:GME) last posted its earnings results on Tuesday, November 21st. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.11. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.98 billion. Gamestop had a net margin of 3.98% and a return on equity of 16.50%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. research analysts forecast that Gamestop Corporation will post 3.3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, December 1st will be issued a $0.38 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.52 annualized dividend and a yield of 7.92%. Gamestop’s dividend payout ratio (DPR) is presently 44.31%.
Several analysts have recently commented on GME shares. Oppenheimer reissued a “hold” rating on shares of Gamestop in a research note on Wednesday, November 22nd. Loop Capital reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Gamestop in a research note on Wednesday, November 22nd. Benchmark reaffirmed a “sell” rating and issued a $15.00 price objective (down from $18.00) on shares of Gamestop in a research note on Wednesday, November 22nd. ValuEngine raised shares of Gamestop from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Bank of America reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Gamestop in a research note on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Gamestop currently has an average rating of “Hold” and a consensus price target of $23.47.
In other Gamestop news, Director Stephanie M. Shern sold 4,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $17.91, for a total value of $71,640.00. Following the sale, the director now directly owns 13,474 shares in the company, valued at $241,319.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company’s stock.
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GameStop Corp. is an omnichannel video game retailer. The Company sells video game hardware, physical and digital video game software, video game accessories, as well as mobile and consumer electronics products and other merchandise through its GameStop, EB Games and Micromania stores. It operates its business in five segments, which consists of four Video Game Brands segments: United States, Canada, Australia and Europe, and Technology Brands segment.
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